SHANGHAI, Sept 30 (Reuters) - China's securities regulator will scrap limits on asset allocations under the Qualified Foreign Institutional Investor (QFII) programme, and its yuan-denominated variant RQFII scheme, in a bid for more long-term capital inflows, the official Shanghai Securities News said on its website on Friday.

The China Securities Regulatory Commission (CSRC) will let QFII and RQFII investors decide themselves how to allocate their assets in China, and has notified custodian banks of the rule changes recently, according to the newspaper.

Previously, CSRC had issued window guidance urging QFII investors to put at least 50 percent of their assets in stocks, and a maximum of 20 percent in cash, the newspaper said.

By the end of August, China had granted $81.5 billion of investment quotas to 300 institutions under QFII, and 510.3 billion yuan ($76.52 billion)of quotas to 210 institutions under RQFII, according to the Shanghai Securities News. ($1 = 6.6690 Chinese yuan) (Reporting by Shanghai Newsroom; Editing by Richard Borsuk)